Browsing: FX

The naira weakened further across the official and parallel markets on Tuesday. The local unit depreciated by 0.01% to ₦1,373.87 against the US dollar at the Nigerian foreign exchange market (NFEM) window as pressures persisted.

The naira depreciated against the US dollar on Monday at the Central Bank of Nigeria’s Foreign Exchange Market (NFEM) as FX inflow remained stiff.

Offshore or foreign portfolio investment inflows accounted for more than 59% of the US dollars available at Nigeria’s foreign exchange market, details released by the research unit of Coronation Merchant Bank Limited revealed.

Naira Opens Weak, Nigeria’s FX Reserves Signal Uptrend The Nigerian naira opened weak on Monday after a weekly value depreciation…

The naira fell against the US dollar at the Nigerian Foreign Exchange Market (NFEM) window for the third consecutive trading session amid growing FX payments from eligible market participants.

Naira Gains 4.42% in 4 Months as FX Reforms Hold The naira gains 4.42% in four months as FX reforms…

The Nigerian local currency, the naira, rallied across the currency markets on Thursday, driven by improved FX liquidity. In its daily FX report, the Central Bank reported that the spot FX rate rose by ₦1.49 to N1355.85 against the U.S. Dollar.

The Nigerian naira gained about N11.80 kobo per US dollar (USD) at the official window in April, closing at N1374.9431, according to daily FX publications released by the Apex Bank.

The euro (EURUSD) climbed to $1.17 on Monday as the US dollar rally slowed amid a new proposal from Iran that could end the Middle East war, while markets awaited economic data releases.

Naira Sheds Weight Amidst Declining Foreign Reserves The naira depreciated by ₦14.80 to close at ₦1,358.44/$ in the official market,…